ISLAMABAD – The federal government has decided to double Withholding Tax (WHT) for non filers on buying and selling in property sector.
Federal cabinet has decided to include Rs700 billion new taxes in the forthcoming budget for the fiscal year 2023–2024.
Following extensive discussions with the IMF, the government decided to set the Federal Board of Revenue’s (FBR) tax collection goal at Rs9,200 billion, or around Rs1,900 billion higher than the previous fiscal year.
The Finance Bill, which suggested raising the withholding tax on the import of luxury goods, has been finalised by the government.
Additionally, it has been suggested to double the WHT for non-filers when purchasing and selling real estate.
Similar to this, the bill suggests increasing WHT for trading prize bonds.
How much increase Pakistan government employees will get in Budget 2023-24?
